Bryan Co. Commissioners meet to pay back $500,000 loan

By: Daniel Gotera Email
By: Daniel Gotera Email

DURANT, Okla. -- Bryan County Commissioners are looking for ways to pay a loan and finance their troubled jail.

Commissioners met on Tuesday with local banks to see if they could come to an agreement.

A court hearing is scheduled for June 1st between Durant banks and the county commissioners over half-a-million dollars worth of loan payments.

But both parties say they hope for a solution so a court date isn't even necessary.

Commissioners deliberated for hours this morning as they discussed affordable ways to pay a $500,000 loan.

A sales tax passed in 2005 was supposed to pay the debt but was used to maintain facilities and purchase the auxiliary jail.

Bank officials proposed two new notes to use the sales tax and collateral on county property to make payments over five years at a lower rate.

"I know they're going very well, the banks seem to be interested and make some kind of an agreement as does the county and we just hope we both agree to it." said Bryan County Commissioner Monty Montgomery.

County commissioners are requesting appraisals on pieces of property near the new health department.

They plan to make a decision on a new payment plan next week.

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  • by Opinionated Location: Ardmore on May 28, 2007 at 12:54 AM
    I thought it was illegal to use that money other than what it was earmarked for.
  • by Heather Location: sherman on May 23, 2007 at 01:58 PM
    Hee. Alright now, Bryan Co. Ya'll are lookin like a big ol joke to the rest of Texoma. Shape up! why didn't thet use the loan for what it was originally proposed for? Is that even legal?
  • by Freddy Location: Durant on May 23, 2007 at 10:17 AM
    Having seen what "improvements" were made to the Bryan County Jail, I can't help but wonder whose pocket the money went into.
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